According to data from CoinGlass, the cryptocurrency market witnessed total liquidations of $1.024 billion over the past 24 hours. Long positions suffered the most, with $907 million liquidated (88.6% of the total), while short liquidations reached just $116 million, highlighting a severe long squeeze.
Breaking down by asset, Bitcoin saw the largest liquidation volume at $618 million, of which longs accounted for $594 million and shorts only $23.22 million. Ethereum recorded $143 million in liquidations, with $122 million from longs and $20.68 million from shorts, while Solana faced $37.4569 million in liquidations, heavily skewed toward longs at $35.53 million against $1.92 million in shorts. A total of 171,282 traders were liquidated during this period, and the single largest liquidation event was a $27.4927 million order on the Hyperliquid BTC-USD trading pair.